India's Electronic Manufacturing To Double in Next Five Years

India's electronic manufacturing industry is expected to grow over the next five years. According to a ministry source, the country's electronic manufacturing is expected to reach over USD 250 billion over the next five years, as per Ministry of Electronics and Information Technology sources. The nation's current electronic exports total between USD 125 and 130 billion.

The government also plans to address the issue of unemployment by creating jobs in the electronic manufacturing sector. Currently, 25 lakh people work in electronics manufacturing. In the next five years, the government intends to quadruple the number of jobs in the electronic manufacturing sector from 25 lakhs to roughly 50 lakh.

"Our focus remains the same on providing services to digital technology, our focus remains on getting large-scale electronics manufacturing. Those focus remain exactly and those target goals will only get accelerated" said Ashwini Vaishnaw Minister for Electronics and Information Technology.

According to the sources, India is already in the process of changing from import substitution to becoming Aatmanirbhar and an export-led manufacturer in specific categories, such as mobile. In terms of laptops, India is on the verge of becoming Aatmanirbhar.

The Indian government has also granted Rs 760 billion in incentives for electronic manufacturing in India. India's per capita electronic usage equals one-fourth of global consumption.